It is a fun and free app but it has no revenue plans and really cannot compete with the likes of Facebook, despite user growth, and for that reason as an investment SnapChat is trash. Do not put your money here! Below are some snippets from earnings.

It is not good. Snap (NYSE:SNAP) has tumbled 15% in volatile trade after hours after and premature after its Q2 report came up short of expectations on top and bottom lines. I missed revenues and profit estimates folks. Net loss widened to $443.1M from a year-ago $115.9M. Revenues rose 153% to $181.7M, short of expectations for $186.5M.

EBITDA came to -$194M vs. an expected -$185.4M. There is a glimmer of hope. Operational metrics looked better than financials: Daily active users rose to a relatively healthy 173M from last year’s 143M, up 21% Y/Y and up 7.3M (4%) from the previous quarter.

Average revenue per user came in at $1.05, over the psychological barrier of $1.00 and more than double a year ago ($0.50). It rose 16% Q/Q from Q1’s $0.90.

Capex was $19.4M vs. a year-ago $16.4M. Free cash flow was -$228.94M. Cash, equivalents and marketable securities stood at $2.8B.

We are now a whopping $5 below the IPO price or $17. Ouch.